United Breweries Limited (UBL), a part of the HEINEKEN Company, on February 17 informed that its Managing Director and Chief Executive Officer, Rishi Pardal, tendered his resignation on Thursday (February 16), and accordingly, will serve his six months’ notice period now.
Pradal served as the MD & CEO of the company for two years, and nine months, according to his LinkedIn profile. Before that, he was the Vice President and General Manager, Global Apparel Solutions, RBIS for over 3 years.
Commenting on Pradal's resignation, Jacco van der Linden, President – Asia Pacific, HEINEKEN, and a member of the UBL Board said: "With Rishi's leadership, UBL has successfully navigated through COVID challenges and has made significant steps in integrating UBL into the HEINEKEN Group while keeping a focus on the business. We are thankful for the leadership, and experience Rishi has brought to the company."
"During Rishi's tenure, UBL has deepened the company's bench of talented executives with a good mix of externally recruited and HEINEKEN talented and experienced leaders. The executive team will continue to drive the business forward," van der Linden further said.
Meanwhile, the outgoing CEO added, "The past years have been important in the company's evolution. UBL is well-positioned to shape the future of beer and beyond."
HEINEKEN obtained control of UBL in India in July 2021, following an acquisition of a majority share in UBL. Since then, UBL has been on an integration journey into the HEINEKEN Group.
Shares of United Breweries on Friday (February 17) closed 1.75 percent higher at Rs 1,488.65 apiece on BSE on a day that benchmark indices Sensex and Nifty 50 snapped a three-day winning streak to end lower amid selling across sectors barring capital goods.
At close, the Sensex was down 316.94 points, or 0.52 percent, at 61,002.57, and the Nifty was down 91.60 points, or 0.51 percent, at 17,944.20.
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